PROS Holdings says all $106.25 million outstanding 2% notes converted

By Sarah Lizee

Olympia, Wash., Oct. 30 – PROS Holdings, Inc. said that between Aug. 21 and Oct. 29, it received conversion notices from holders of 100% of its $106.25 million outstanding 2% convertible senior notes due 2047, according to an 8-K filing with the Securities and Exchange Commission.

In satisfaction of the conversion notices, the company issued 2,261,633 shares of common stock to the holders of the convertible notes, as well as $857.15 in lieu of fractional shares.

Because all of the notes have been converted, the previously announced redemption did not occur.

As previously reported, the company had planned to redeem the notes on Oct. 30 at 92.39 plus accrued interest.

Prior to the redemption, holders had the option to convert the notes into shares of the company’s common stock at a rate of 21.2861 shares per $1,000 principal amount, equivalent to a conversion price of $46.98 per share.

PROS Holdings is a Houston-based price optimization and revenue management software company.

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